Consumer electronics sales in the Chinese market is expected to fall 5 per cent to US$218.6 billion this year, according to Statista.
The researcher’s survey shows that the global consumer electronics market will see a $5.3 billion decline in sales this year, representing a 0.5 per cent decrease from 2023.
China, the world’s leader in consumer electronics sales, is forecast to generate roughly one-fifth of global category revenue this year and see the biggest drop.
As the second-largest consumer electronics market, the US will also see revenue decrease by 0.5 per cent to $160 billion. Japan and Brazil follow with a 1.2 per cent and 0.6 per cent decline, respectively.
Meanwhile, India will go against the trend, with sales projected to grow 5 per cent to $73.1 billion.
By segment, most of the decline will come from smartphone sales, expected to drop by $11.6 billion to $486.7 billion this year. Sales of computing devices, namely desktop PCs, laptops, tablets, keyboards, and monitors, will be around $500 million lower than last year.
All other segments, including TVs, radios, multimedia devices (cameras, headphones, and speakers), and gaming equipment, are projected to improve this year.
